Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Moody’s, S&P Global tell appropriations committee tariffs and slower hiring could damp growth
Summary
Moody’s economist Emily Mandel and consultants from S&P Global told the Joint Appropriations Committee that the U.S. economy and North Dakota should keep expanding but at a slower pace, and that new tariff plans and other risks could slow hiring, consumer spending and state revenues.
Moody's economist Emily Mandel and consultants from S&P Global presented separate but largely consistent outlooks to the Joint Appropriations Committee, saying the U.S. and North Dakota economies are still expanding but that new tariffs, higher prices in some sectors and slower job growth will likely trim momentum over the next two years.
Mandel, identified as an economist who works with the state forecast team, said the U.S. “is still expanding. It’s still on track. We’re still growing, although a little bit more slowly.” She told lawmakers that while consumer spending remains solid — about 3 percent year over year in her presentation — much of that growth has come from services rather than goods, which has implications for sales-tax receipts.
The Moody’s baseline included two key risks: higher effective tariffs and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
